No need for further monetary stimulus – BOJ

FXStreet (Mumbai) - As per Bloomberg report, the Bank of Japan (BOJ) stated that there is no need for further monetary stimulus and is said to see a summer pickup critical after the slowdown in spring. The bank views inflation as improving even with Q2 contraction and is watching the summer rebound to gauge inflation outlook.

There were reports earlier that the bank has decided to reduce their annual number of meetings from 14 to 8 but now the sources say they will time them in sync with the US FOMC. Currently the BOJ hold meetings every month and twice in April and October.